Abu Dhabi Developmental Holding Co announces new brand

ABU DHABI, March 24, 2020

Abu Dhabi Developmental Holding Company (ADDH), one of the region’s largest holding companies, has unveiled a new brand identity, to become ADQ.

The announcement coincides with ADQ’s new phase of growth with the addition of 14 companies to its portfolio.

The recent additions to ADQ’s portfolio include the General Holding Corporation (Senaat). Senaat’s subsidiaries span a range of sectors such as agri-food and industrial assets, and encompass companies including Agthia, Al Foah, National Petroleum Construction Company, Emirates Steel Industries, Dubai Cables Company and Arkan Building Materials.

This brings the total number of companies within its portfolio to over 25 companies with a diversified exposure across 11 sectors.

Reinforcing its commitment to develop the emirate’s growing tourism sector, shares of multiple renowned hotels and tourism facilities in Abu Dhabi have also been transferred to ADQ.

This follows recent high-profile announcements as ADQ finalised its agreement to establish Wizz Air Abu Dhabi in partnership with Europe’s largest low-cost airline, Wizz Air.

Additional companies added to ADQ’s portfolio include Abu Dhabi Securities Exchange (ADX), Image Nation, and shares in the National Marine Dredging Company PJSC and Emirates Driving Company PJSC.

The expanded portfolio will deepen ADQ’s focus on the development of industrial, agri-food, media, financial services, and tourism and hospitality sectors in the Emirate. It also complements the initial focus on utilities, transportation, logistics, aviation, real estate, and healthcare.

CEO Mohamed Hassan Alsuwaidi said: “ADQ brings together some of Abu Dhabi’s most dynamic and ambitious enterprises, so that we may act as a national champion on behalf of the government to maximise the performance and value creation by each of our portfolio companies, as well as their long-term impact on our society.”

“In practice, we aim to enable them through collaboration to achieve excellence in terms of higher productivity, efficiency and quality that will help promote their operations and their business success in increasingly competitive markets at home and abroad," stated Alsuwaidi.

"Each portfolio company has built its own powerful place in society and regional markets. We do not seek to change that, but to enhance it,” he added.

“Apart from supporting the government’s economic diversification strategy in collaboration with the Ghadan 21 programme, we aim to act as enablers of even greater innovation and advancement and to support our portfolio through the application of best practice and optimal capital allocation and management,” said Alsuwaidi.

ADQ was established in 2018 as a public joint stock company (PJSC). In 2019, the Abu Dhabi Government moved its interest in 13 companies to ADQ.